Afraid to Leave your bank for a Better Rate?
Filed Under Main Content · Tagged: Consumers, Financial Post, Mortgage, Purchasing, Shopping
The Financial post
Consumers are more aggressive shopping for a mortgage when purchasing their first home, then upon renewal.See full story on this topic »
HST blamed for drop in sales across the country
Filed Under Main Content · Tagged: Adjusted Basis, Banks, British Columbia, Consumers, Decline, Existing Home, Financial Group, Housing Market, Interest Rates, July 1, Ottawa, Purchasing, Real Estate Boards, Real Estate Commission, Slowdown
Financial Post- The Ottawa-based group, which represents 100 real estate boards across the country, said July sales fell 6.8% on a seasonally adjusted basis from the previous month, a decline "almost entirely the result of fewer sales in British Columbia and Ontario," where the HST went into effect on July 1.
The slowdown had been expected as consumers rushed to buy homes before July 1 in those provinces. The HST only applies to services used in purchasing and selling an existing home, such as real estate commission, not to the actual sale price.
The housing market did get a bit of good news from some banks, which lowered interest rates this week…
